ABAT verifying (physical) assets. Year / Equity placement / Shareholder's Equity 2010 / 28.5 / 205 2009 / 40.8 / 132 2008 / 20.4 / 76 2007 / 0 / 36 2006 / 0 / 21 Equity placement total = $89.7M Shareholder's Equity increased by $184M If the company wasn't profitable, how did it do that? --------------- http://abat.sys145.pkulab.com/a/English/ABOUT_US/Group_Profile/list_42_1.html Subsidiary / Total area (sqm) / Floor space (sqm) Harbin / 136,000 / 70,000 Wuxi / 80,000 / 35,000 Dongguan / 105,000 / 55,000 Dongguan was an $83M investment. We've all seen the pictures and videos. Total floor space is roughly 3x the size of Dongguan..... If the company wasn't profitable, how did it do that? How did it purchase inventory? How about prepaid expenses? etc. --------------- 2010 http://www.sec.gov/Archives/edgar/data/745651/000109690611000507/abat10k20101231.htm Proceeds from equity financing, net $28,471,500 2009 http://www.sec.gov/Archives/edgar/data/745651/000109690610000346/abat10k20091231.htm Proceeds from issuance of stock, net $40,788,717 2008 http://www.sec.gov/Archives/edgar/data/745651/000109690609000214/advancedbatteryform10k123108.htm Proceeds from issuance of common stock, net $20,356,480 2007 http://www.sec.gov/Archives/edgar/data/745651/000129092908000015/abat10ksb2007.htm Net cash provided by (used in) financing activities 776,826 (loan) 2006 http://www.sec.gov/Archives/edgar/data/745651/000129092907000111/abat10ksba2006.htm Net cash provided by (used in) financing activities (4,628,672) (repayments loan)